Posted on 02/24/2023 2:08:44 PM PST by ChicagoConservative27
Telecom equipment maker Ericsson plans to lay off 8,500 of its employees globally to cut costs, according to a memo sent to employees from the company’s CEO Börje Ekholm.
“The way headcount reductions will be managed will differ depending on local country practice,” Ekholm wrote.
According to Reuters, the layoffs are predicted to affect North America and would be the largest to hit the telecom industry. The company announced Monday that about 1,400 jobs in Sweden will be slashed as well.
“In several countries, the headcount reductions have already been communicated this week,” he said.
Ericsson is the latest telecom company to lay off workers in an industry that increased its inventory during the height of the pandemic.
(Excerpt) Read more at thehill.com ...
Their phones used to be the cat’s meow. They didn’t keep up with the times.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.